Harvest Fund Management Co. Ltd Acquires Shares of 1,756 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Harvest Fund Management Co. Ltd bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,756 shares of the financial services provider's stock, valued at approximately $573,000.

Several other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after buying an additional 3,444 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in LPL Financial by 23.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider's stock worth $1,021,000 after purchasing an additional 821 shares in the last quarter. Quest Partners LLC boosted its position in shares of LPL Financial by 45.6% during the third quarter. Quest Partners LLC now owns 4,387 shares of the financial services provider's stock valued at $1,021,000 after buying an additional 1,373 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in LPL Financial by 2,076.9% during the third quarter. Meeder Asset Management Inc. now owns 566 shares of the financial services provider's stock worth $132,000 after buying an additional 540 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in LPL Financial in the 3rd quarter valued at $735,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LPLA. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. JMP Securities restated a "market outperform" rating and set a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $379.17.

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LPL Financial Stock Performance

LPLA traded up $0.80 on Tuesday, hitting $342.54. The company's stock had a trading volume of 385,133 shares, compared to its average volume of 743,231. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The firm has a market cap of $25.58 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company's 50 day simple moving average is $352.24 and its 200-day simple moving average is $308.94.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is 8.55%.

Insiders Place Their Bets

In related news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares of the company's stock, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock valued at $12,562,070 in the last quarter. Corporate insiders own 1.30% of the company's stock.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.